Quote:
Originally Posted by 93nav
I cannot figure out what you guys are talking about utilization rates and keeping small balances.
I have not had a loan in 10 years. prior to the last two years, I rarely used my credit card for other than smaller online purchases. Paid the CC bill either on time or early. My credit score, last I checked a few years ago, was 8xx.
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I don't have a home loan - nothing since my divorce in 2010. I have 3 credit cards, with a small balance on only one of then ( under$2K). I pay cash for just about everything. I took out a student loan for my youngest and that loan amount is $17K. My credit score is over 800.
I just bought a car and took out 4 yr loan. The amount is $20K - it is the first time I have had a car payment in over 20 years. It dinged my score 4 pts.
I don't understand it either.
I would run a credit report to see if the information on you is correct.